FCA to introduce 'synthetic' LIBOR rates

Concerns that year-end conversion is ‘not practicable’

Lauren Mason
clock • 1 min read
FCA to introduce 'synthetic' LIBOR rates

The Financial Conduct Authority (FCA) has announced that several LIBOR panels, which will cease to exist by year-end, will have to publish synthetic rates to ensure an “orderly wind-down” as the industry transitions away from LIBOR benchmarks.

The decision taken, which will affect six remaining sterling and Japanese yen LIBOR settings for "a limited time period" after the end of 2021, was taken to avoid the disruption of legacy contracts...

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